The debate on the risks and benefits of the globalisation of international capital markets has focused on the volume and the volatility of the main capital flows — foreign direct investment (FDI), portfolio investment, and foreign bank lending. Financial transfers in the form of worker...

Globalization has affected the integration of markets through many different channels, including movements of factors and trade in goods. From a theoretical point of view, the interaction between the different channels of integration can take different forms. The aim of this paper is to analyze...

The integration of the central and eastern European countries into the international capital markets has been and will be determined by the process of European Union (EU) integration. Our analysis shows that southern and eastern European countries already appear to be surprisingly similar...